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PetSec Energy develops oil and gas exploration project in Yemen amid management changes

PetSec Energy Ltd (ASX:PSA) executive chairman Terry Fern updates Proactive Investors on the oil company's recent management changes and development of its exploration field in Yemen.

Fern says that Block S1 at the project has five fields, 50 million barrels of oil and 550 billion cubic feet of gas

He adds: "Just at 5,000 barrels per oil a day of brent prices of $70 a day, the net revenue for a four-year production... is $100 million."

Quick facts: Petsec Energy Ltd

Price: 0.049 AUD

ASX:PSA
Market: ASX
Market Cap: $19.53 m
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